The Federal Reserve has reappointed its regional bosses earlier than anticipated, allaying concerns that Donald Trump’s allies on the central bank’s board could have sought to block them remaining in their roles.
The Fed’s board said on Thursday it had backed a decision to reappoint the 11 regional presidents who intend to remain in their roles. The vote, which occurs every five years, was scheduled to take place before the end of February.
While the process has rarely attracted much attention in the past, the president’s hostility towards the Fed had raised concerns that some of the heads of the 12 regional banks that make up its regional network could see their terms blocked.
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